May 14, 2020 / 3:56 PM / 12 days ago

BRIEF-Eutelsat Q3 Revenue Down At 322.0 Million Euros

May 14 (Reuters) - Eutelsat Communications SA:

* Q3 REVENUE EUR 322.0 MILLION VERSUS EUR 336.7 MILLION YEAR AGO

* ORDER BACKLOG STOOD AT EUR 4.2 BILLION AT MARCH 31, 2020 VERSUS EUR 4.3 BILLION AT END-DEC 2019

* UPDATED FINANCIAL OUTLOOK PUBLISHED ON APRIL 9, 2020 IS CONFIRMED

* COVID-19 EFFECTS ON REVENUES ARE LIKELY TO PERSIST AT LEAST INTO EARLY MONTHS OF NEXT FISCAL YEAR, TOGETHER WITH MORE GENERALISED SLOWDOWN IN PACE OF NEW BUSINESS

* ON C-BAND: SCHEDULE FOR CLEARING 300 MHZ OF C-BAND SATELLITE SPECTRUM WILL BE CONCLUDED BY DEC 5, 2025

* ON C-BAND: ELIGIBLE SATELLITE OPERATORS AGREEING TO ACCELERATE CLEARING WILL BE REQUIRED TO CLEARING 120MHZ IN 46 OF TOP 50 PARTIAL ECONOMIC AREAS (PEAS) BY DEC 5, 2021, TOTAL 300 MHZ IN ENTIRE CONUS BY DEC 5, 2023

* ON C-BAND: EUTELSAT IS CONFIDENT OF BEING ABLE TO EXECUTE CLEARANCE WITHIN PRESCRIBED DEADLINES

* LIQUIDITY POSITION AT END-MARCH, INCLUDING CASH AND UNDRAWN CREDIT LINES, IS COMFORTABLY ABOVE EUR 1 BILLION

* IN CONTEXT OF ITS INTEREST RATE HEDGING POLICY, PRE-HEDGE INSTRUMENT CAME TO MATURITY RESULTING IN EUR 39 MILLION ONE-OFF CASH-OUT

* CONFIDENT THAT STRONG FINANCIAL POSITION, CASH-FLOW GENERATION CAPACITY, COMBINATION OF RESILIENT HERITAGE ACTIVITIES AND CONNECTIVITY-RELATED GROWTH OPPORTUNITIES WILL ENSURE IT IS WELL POSITIONED TO WITHSTAND CHALLENGES OF CURRENT ENVIRONMENT Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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